TRIS gives The Union Mosaic Industry a BB+ rating

 


TRIS said the rating reflects UMI’s satisfactory business profile, characterised by a modest market share, well-accepted brand names and a long track record. 
Conversely, it said the rating is weighed down by waning demand in the domestic market for tiles and the rising competitive pressure from imported tiles. 
The rating also takes into account the company’s high susceptibility to the volatile energy sector, as rising energy prices have a significant negative effect on profitability, TRIS said.